Passbook account definition

Passbook account means an account under which debits and credits are posted by the bank recording them in a passbook originally given by the bank to the customer and presented to the bank for such recording by the customer.
Passbook account means an ac- count in which the member retains a book or other document in which the credit union records transactions on the account.
Passbook account means an account which is evidenced by a

Examples of Passbook account in a sentence

  • In any case you will get the statement at least quarterly).(4) Passbook account where the only possible electronic fund transfers are preauthorized credits.

  • You will not receive a periodic statement noting these transactions on your Passbook account.

  • In any case you will get the state- ment at least quarterly).(4) Passbook account here the only possible electronic fund transfers are preauthorized cred- its.

  • Deposit in the Passbook account opened with the Bank is deemed deposit pursuant to Article 3, par.

  • If the only type of electronic fund transactions are preauthorized deposits you will not receive a statement for your Passbook account.

  • Their theory further exposed that, in the market economy, there are different financial instruments like Bank Deposits, Passbook account, bonds and equity shares.

  • In any case you will get the state- ment at least quarterly).(4) Passbook account where the only possible electronic fund transfers are preauthorized cred- its.

  • If you have a Passbook account, it will be converted to a savings account.

  • Passbook account where the only possible electronic fund transfers are preauthorized credits.

  • When a Client opens a Gold Passbook account, these provisions shall apply in priority.


More Definitions of Passbook account

Passbook account means an account which is evidenced by a passbook, certificate of deposit or similar document.

Related to Passbook account

  • Direct Account : means any Account which is not an ISA Account.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.